Lufax plans 10-for-1 reverse ADS split effective October 23

Lufax Holding Ltd (NYSE: LU) announced plans to change its American Depositary Share ratio from one ADS representing two ordinary shares to one ADS representing 20 ordinary shares, effective on or about October 23, 2026.

The ratio change will have the same effect as a one-for-ten reverse ADS split. Holders of ADSs in the Direct Registration System and through the Depository Trust Company will have their ADSs automatically exchanged, while registered holders of certificated ADSs must surrender their certificates to depositary bank Citibank, N.A., and will receive one new ADS for every ten existing ADSs held.

No fractional new ADSs will be issued. Fractional entitlements will be aggregated and sold by the depositary bank, with net cash proceeds distributed to applicable holders after deduction of fees, taxes, and expenses.

The change will not affect Lufax's underlying ordinary shares, and no ordinary shares will be issued or cancelled as a result. The company's ADSs will continue trading on the New York Stock Exchange under the ticker symbol "LU."

Lufax noted that the ADS trading price is expected to increase proportionally following the change, though the company offered no assurance that the post-change price would equal or exceed ten times the pre-change price.

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